What’s ahead for South Carolina Housing

Yesterday I the pleasure of joining South Carolina REALTORS® from across the state for SC Lead 2014 conference in Columbia where Joey VonNessen of USC presented the Economic Outlook for the Palmetto State. South Carolina leads the US in economic growth and several indicators point to increasing employment opportunities while wages in SC for now remain sluggish.

The annual report on the SC Housing Market shows the median sales price at a 5 year high of $157,500 with many areas meeting most of their declines. In the Myrtle Beach area median sale prices rose 4.7% to $146,500 while average sale prices rose 5.7% in 2013. Increasing price trends are expected to continue in our area in 2014 but with limited wage growth home affordability may become an issue for entry level buyers as prices increase over the next year.

Bottom line – home affordability is as good as it gets today and if you are in the market to purchase a home now might be the best time to make your move.

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

2013 Home Sales Bargins in Murrells Inlet

If you’ve been looking to buy a home in the Murrells Inlet area finding a bargin can be a daunting task since house hunters snap up well priced properties in a matter of days.  Looking for a home on the beach might be where the real bargins can be found based on the latest sales numbers for homes on Garden City Beach in Georgetown County.

Home buyers in Murrells Inlet the first quarter of 2013 paid less than the first quarter of 2012 based on sales prices to date in the MLS for Murrells Inlet single family homes.  The Median Sale Price fell 15.5% while the Average Sale price shows a 12.1% decline for homes sold in the Georgetown County portion of Murrells Inlet where the MSP for all sales to date was $296,000.

Homes on the Garden City Peninsula on average sold at 73% of list price year to date while homes in Murrells Inlet sold at 93% of list price.  One ocean front property took over 1400 days to sale and closed at less than 50% of original listing price helping to pull down the list to sale price numbers.  No homes in the Murrells Inlet area sold above $1 million in 2013 while in 2012 there were 2 ocean front homes sold in excess of $1.3 million.

With 18 properties currently priced over $1 million there might be some opportunity to pick up a water front home at a bargin price especially with the recent sales on the beach that could indicate some overpriced listings and with the high market time these sellers might be ready to make a deal. Copyright©2013 Sandra Bundy, Broker-in-Charge, B&P,Inc.  Serving the Grand Strand and Pee Dee South Carolina.

Murrells Inlet home sales Market Update

Murrells Inlet YTD Home Sales

With 361 single family home listings in Murrells Inlet the number of homes available for sale has increased over 57% the last 3 months.  No doubt there are many choices in the Murrells Inlet market area.  With the average sale price down 6.8% over the same period last year price declines appear to be slowing and with limited REO and Short Sale listings we might see more price improvements in the next 3 to 6 months.

The current YTD average sale price in Murrells Inlet is $237,947 with and average of 202 days on market.  While the average sale price is on the high side there are many affordable homes available in the Murrells Inlet area priced below $200k.  If you are looking for a Murrells Inlet home start your home search online today.  Copyright 2012, B&P, Inc. Sandra Bundy, Broker-in-Charge.

 

Call Sandra Bundy today for more information on buying or selling your Murrells Inlet home.

 

Selling Your Murrells Inlet Home

Spring is just around the corner and typically means Murrells Inlet home sellers get ready to place their home on the market in order to catch the wave of home buyers that look for homes so a summer move won’t disrupt the school year.  In an area like Murrells Inlet and the attraction from resort and second home buyers typical might not hold true for that rule but the spring and summer months look promising for Murrells Inlet real estate.

The rent versus sell decision should not be taken lightly especially if your original purchase was in the last few years and you fully intended to keep the property.  Rental units are in demand in Murrells Inlet and along the Grand Strand and while sale price declines appear to be leveling increasing values might not occur in the short term.  Location means everything and we can assist you with analysing your sell or rent senario or buy or rent if you are looking to buy a Murrells Inlet home.

This infographic has some great info for home sellers but don’t forget your REALTOR® can be invaluable when listing your home for sale or when you are looking to buy a home.  If you need assistance or have any questions about selling your Murrells Inlet home let us know as we are here to help. Copyright©2012 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

 

Source: mint.com via Sandra on Pinterest

Murrells Inlet Home Sales fall in January

Murrells Inlet home sales for January 2012 indicate a 26.5% drop for single family home sales when compared to January 2011 as the median sale price slid 20% over sale prices 1 year ago to $177,900.  While sale prices and number of unit sales showed decline the average number of days to sell homes showed some improvement over last year down to 182 days on market.  Distressed sales made up 36% of single family sales in Murrells Inlet last month increasing 6.6% compared to January 2011.

The MSP of $177,900 last month is also lower than January 2010 sale prices for Murrells Inlet while 2011 showed some improvements.  The averge sale price for homes in Murrells Inlet has indicated a steady decline in the last 5 years while median sale prices indicated more fluctations for January home sales during the period.

Statistics released today provided in the graph differ slightly from the Murrells Inlet data as this also includes Garden City homes in the compilation but does follow a similar trend.

Change in Median Sale Price in Murrells Inlet and Garden City

Please contact us for more information about your Murrells Inlet home value. Copyright©2012 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

Murrells Inlet Home Sales Trends for October 2011

Murrells Inlet Home Sale Data October

With 44% of single family homes sold in the Georgetown County portions of Murrells Inlet in October being distressed sales it is no surprise that the average sale price of $333,978 is down 10% from the same month last year.  The median sale price for Murrells Inlet homes marks over a 13% decline over October 2010 and much of the loss in value appears to be coming from the decline in home sale prices for the Garden City Beach vacation homes.

Over the last year only 3 of the 108 single family homes sold surpassed the million dollar sale price mark while there were 8 sales over $1 million in the previous year with one Garden City Beach home selling at over $2 million dollars in April 2010.  A majority of Murrells Inlet homes sold over the last year were in the $200,000 to $300,000 dollar range with 47 sales marking a 36% increase over the previous year and home sales below $199k also increased over the period.

New construction appears to be picking up in Murrells Inlet with several new homes at Boat House Run new the new Jetty View Project and the first home is also being constructed at Flag Pointe on Murrells Inlet Creek in addition to home starts across from the bike path at the southern tip of Murrells Inlet.  No doubt Murrells Inlet is a great place to call home and will be home to many new residents in the coming year as these new construction homes close to Murrells Inlet Creek, Marshwalk, bike path and boat landing are certain to draw a crowd. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

If you need assistance with buying a Murrells Inlet home or have questions about your home’s value contact Sandra Bundy @843-902-7615 for more information.

Are Murrells Inlet Home Prices Stabilizing?

Murrells Inlet home sale prices appear to be holding with a median sale price of  $240,175 for single family homes sold in September up slightly over the same month in 2010 when the median sale price was $238,416.  Along with the upward price trend the number of homes sold also increased in September with 40 single family homes sold in Murrells Inlet.  August Inlet home sales also showed an increase in median sale price so are Murrells Inlet home sale prices stabilizing?

The answer is they appear to be swinging upward but there is more to the picture than home sale prices since Murrells Inlet homes for sale also play a factor in where home sale prices might be headed for the remainder of 2011 and into 2012.  Currently there are 459 single family homes listed in the Murrells Inlet zip code and 85 with contracts but only 8 pending cash sales.  The active listings represent at least 1 years inventory and if listings continue to climb into the winter months when the number of sales typically falls we could see a less stable market going forward but for now Murrells Inlet home sale prices appear to be stable.

If you are thinking of buying a Murrells Inlet home start your search today! Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

Determining the Value of Your Murrells Inlet Home

As a REALTOR® that frequently provides Broker Price Opinions on area real estate I have plenty of practice when it comes to helping Murrells Inlet home buyers and sellers determining the present value of their home.  No I am not an appraiser but what I can do is provide a home market analysis based on sales activity in particular homes neighborhood to arrive at a fair market price.

A home market analysis is an important tool in helping both home buyers and sellers and should be used to help sellers when listing their Murrells Inlet home or buyers wishing to purchase a Murrells Inlet home.  Home sellers needing to sell in todays market must take market facts into consideration as with over 500 single family homes listed in Murrells Inlet at this time overpricing could greatly extend marketing time.

When I work as a buyers agent it is especially important for me to show them property that is in their price range but I can also point out others that are overpriced and help them make the best offer possible on the home they wish to purchase by using recent Murrells Inlet home sales of similar properties.  Please contact us for assistance with determining the value of your Murrells Inlet home or to work for you when you purchase your home in Murrells Inlet. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

Murrells Inlet Home Sales Increase in July

The number of single family homes sold in Murrells Inlet have increased just over 28% when compared to July of 2010 and appears to support an increase in home sales in the Murrells Inlet area as has been the case in many local market areas.  The bad news is that the sale price of homes in Murrells Inlet have declined 17.4% over sale prices in July 2010 with the average sale price of $222,473 compared to $269,353 in July 2010.

The single family inventory has over 500 homes currently listed for sale at this time and marketing time remains high as a result of slowed demand for homes coupled with overpriced listings in some Murrells Inlet neighborhoods.  The REO inventory remains low in the area as does short sale activity which accounted for only 14.3% of sales in July.  There were 166 new listings in Murrells Inlet in the last 3 months and buyers have plenty of choices in the market area.

This is a broad overview of Murrells Inlet single family homes sales for the month of July 2011.  If you would like a more in depth analysis of what your home is worth in todays market please contact us for assistance. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

Finding your home in Murrells Inlet

Searching for homes to purchase in Murrells Inlet or anywhere else for that matter more often than not begins with looking at real estate search sites like REALTOR.com, Zillow or Trulia or heading straight to Google to find the perfect dream home. These search sites have millions of searches on any given day and while they do serve as a valuable tool for home buyers in comparing homes and neighborhoods, hiring a buyers agent to work for you can prove to be a wise move especially if you are relocating to this area of the South Carolina coast.

As your Murrells Inlet buyers agent we can help you narrow down choices too since we are your local neighborhood expert and know where and what you can get for the money you want to spend on your home purchase. While looking online prior to making contact with an agent is always a good idea make sure you are aware of the benefits of contacting an agent to work for you in your Murrells Inlet home purchase. The listing agent works for the seller and as a buyer of real estate in South Carolina you are entitled to and should have an agent work for you and protect your interest in a real estate transaction.

Finding your home in Murrells Inlet is what we do for our clients and the next time you think about buying your Murrells Inlet home let us know how we can help make that home dream come true. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc. Serving the Pee Dee and Grand Strand of South Carolina.